Prepare a vertical analysis of the income statement data for Concord Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) CONCORD CORPORATION Condensed Income Statements Entry field with correct answer 2017 2016 $ Percent $ Percent Net sales $638,000 Entry field with incorrect answer 29.07 % $562,900 Entry field with incorrect answer % Cost of goods sold 452,500 Entry field with incorrect answer % 434,800 Entry field with incorrect answer % Gross Profit 185,500 Entry field with incorrect answer % 128,100 Entry field with incorrect answer % Operating expenses 78,700 Entry field with incorrect answer % 42,800 Entry field with incorrect answer % Net income $ 106,800 Entry field with incorrect answer % $ 85,300 Entry field with incorrect answer %